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Bullish Moving Average Cross by Steel Dynamics (STLD)

By Shiri Gupta

Today, shares of Steel Dynamics (NASDAQ:STLD) have crossed bullishly above their 10-day moving average of $27.93 on a volume of 246K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Steel Dynamics has traded in a range of $25.02 to $48.17 and is now at $28.04, 12% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Steel Dynamics on August 2nd, 2019 by issuing a Downtrend alert when the shares were trading at $29.79. Since that call, shares of Steel Dynamics have fallen 8.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Steel Dynamics

Ticker(s): STLD